Miles & More offers interesting rate reductions for award flights booked online through its Fly Smart offers. You may be able to save up to 50% off the regular published rates. These flights need to be booked on relatively short notice (2 weeks to 2 days before the flight).
E.g. economy class flights within Europe are available for 15,000 instead of 30,000 miles.
Click here for the details on this offer.